The A465 runs across the northern edge of industrial South Wales, providing a fast east-west connection between Swansea, Merthyr Tydfil and connections to the Midlands. The Project will complete the last link of 18km between Abergavenny and Hirwaun. It will facilitate economic regeneration of the Heads of the Valleys area by improving accessibility, and journey time reliability. It will overall strengthen the resilience of the A465 by improving standards and enhancing road safety.
The Project is a 35-year contract to design, build, finance, operate and maintain this last 18km link of the A465. It includes 5.5 years of construction.
This project is procured by Welsh Government under the Mutual Investment Model (MIM) framework (largely based on Scottish NPD and UK NHS provisions, both familiar to Meridiam). The MIM framework is tailored to meet the specific needs of the Welsh Government’s infrastructure program and of the Welsh Government policy (including a very strong focus on the projects to delivering community benefits). It allows for Welsh Government equity participation (in this case 15%).
The Project is considered to be critical to the social and economic regeneration of the Heads of Valley Region. Many communities within the Valleys region suffer from higher levels of poverty when compared to the rest of Wales and the UK and historically have relied on support from Welsh Government programs, such as Communities First. One distinctive feature of the MIM model is that the Project Agreement defines a series of community benefits aimed at achieving the objectives of the Well-being of Future Generations Wales Act.
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